Bloomberg News

Stock Rally Erases Dow Average’s 2011 Loss Amid Europe Optimism

October 12, 2011

Oct. 12 (Bloomberg) -- U.S. stocks surged, erasing the 2011 loss for the Dow Jones Industrial Average, after the European Union released a road map of its plans to recapitalize banks and halt the region’s debt crisis.

The 30-stock Dow climbed as much as 164.76 points, or 1.4 percent, to 11,581.06 at 1:02 p.m. New York time, erasing a year-to-date drop that had been as large as 8 percent.

To contact the editor responsible for this story: Michael P. Regan at

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